【LDK】游戏开始透明了

1, 今天 yahoo msg board 已经没人提Audit的事儿了.

2, CC solid. 几个又笨又傲慢的Analyst的表现，都被不客气地一棒打回。PJ 的那个笨蛋试图含沙映射margin比别人高，回答：“we can't comment on others, but we can comment on LDK. If you travel to China and see what kinds of feedstock we use, you will understand...". GS的Sherly Tang胆战心惊地问两个鸡毛蒜皮的"how much prepayment" kind of questions, CFO said, "ready our Q3 report, already about $60-70m there". CIBC 简直rude, 一会儿问2008 Poly supply 为什么不是variable pricing, Peng just flatly said "fixed quantity fixed price", 一会儿说LDK憨大，买了别人的旧机器，LDK 的回答基本上是“what are you talking about?... they sold the machine and singed the contract to buy wafer product back". 　

3, Expansion well on track. Poly 的厂子已经在浇水泥了。 各种节约挖潜提效的措施。

4, 2008的数字很明确。Shipping volume at 530MW. Rev at about $1.1B, gross margin 25%-30%, net income $240--300m, earning per share at $2--$2.5. Growth rate solidly over 100%. At 60， 2008 PEG is 25%--30%。

5, 许多非Wall St 的分析开始出现，如大千贴的 Kudlow China，几个莫名其妙的Wall St Analysts 利用信息不对称而一手遮天的日子估计是不会再回来了。

6，明天的卖方，是前期被套的空方来打压突围，和一部分套利的短期交易者。 明天以后的买方，将是FA驱动的中长期买家。尤其是Mutual Fund 的买家，将是坚定且强大的。

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So, tommorrow let the water fall first. 天要下雨，而已。